HOUSTON, May 13 /PRNewswire/ -- Gamma Biologicals, Inc. (AMEX: GBL) reported today that the company's board of directors conducted a full review of the electro-biosensor project at its May 11, 1993 meeting. As previously reported, resources had been committed to fund development through April 1993, with a subsequent evaluation scheduled.
The board determined that in-house test results obtained to date confirm the project feasibility and approved funding of continuing development efforts. Because the contributions of the outside engineering/design consultants, employed from April 1991 through February 1993, may not be utilized, the decision was made to expense previously capitalized device development charges of approximately $500,000 at March 31, 1993.
In February 1991, Gamma acquired from the University of Texas M.D. Anderson Cancer Center the exclusive worldwide rights to a patent covering a new in-vitro diagnostic testing system utilizing electro- biosensor technology. This technique detects the first phase of bacterial, viral or blood group antigen/antibody reactions. Present diagnostic test results usually depend upon interpretation of agglutination (clumping), solid- phase adherence, fluorescence or color development, which may require up to 24 hours. The immunoelectrode technique detects change in electrical charge as a positive test result in less than five minutes. The advantages of this testing system are speed and accuracy, while obtaining objectivity, as the results are determined by electrical impulse.
Gamma began in-house research into this diagnostic testing concept in 1989. In March 1993, Gamma filed its own patent application utilizing the Redox (reduction/oxidation) approach to biosensor testing.
Future funding for the electro-biosensor project will be contingent upon continued progress being made toward development of a reliable test system. The company is not aware of any competitive efforts to utilize this new technology in the field of immunohematology.
Gamma Biologicals manufactures and markets a wide range of highly refined and specialized testing products, known as diagnostic reagents, as well as sophisticated instrument systems. The company markets to hospitals, blood banks, medical laboratories, physicians' offices and research institutions. Gamma's common stock trades on the American Stock Exchange using the symbol GBL.
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/CONTACT: John J. Moulds, president & COO, or Margaret J.O Bannion, Chief Financial Officer, both of Gamma Biologicals, Inc., 713-681-8481/
(GBL)

CO: Gamma Biologicals, Inc. ST: Texas IN: MTC SU:

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